In this video you will learn how to use the Prudential cost of VGLI calculator. This will help you estimate the future payment for coverage after military service. Make sure to look at your ages in increments of five years to see the full cost of VGLI premiums.
Beware Unknown Cost of VGLI to Many Veterans
Do you know how much a Veterans Group Life Insurance (VGLI) policy actually will cost you 5, 10, or 20 years after you leave the military? Did you know how drastically the cost of VGLI will skyrocket!?
Furthermore, did you realize that cost of VGLI was administered by the Prudential Insurance company and your premiums are a profit to them? The VA is really a middleman to facilitate the program, thus making it inefficient for those who are healthy and could qualify on the free-market.
When you transition out of the military, the Prudential VGLI is considered to be the replacement for the SGLI from when we were active duty. Most active duty service members have never heard of this and falsely make the assumption, or ever worse are led to believe it if roughly the same type of coverage that you get from SGLI.
Nothing could be further from the truth! These aren't "sweet deals" as you are led to believe.
You're Paying a Third Party Contractor Anyways
They are costly, paid to a private insurer, and don't reward you for your health. In fact, they lump EVERYONE into the same plan.
Military benefits, modern financial expert guide and founder of US VetWealth, Scott R. Tucker explains how to calculate what taking the VGLI will cost as you near retirement. The cost of VGLI will begin to charge higher rates exponentially more as you reach age 60.
Make sure you know if you will be able to afford that or look for a better option. Know what rate they are going to charge you when you get closer to retirement.
Learn more by downloading our white paper all about the Survivor Benefit Plan and VGLI today!